Diaspora investment crucial for national development – Expert

The Chairman of Silicon Valley Nigeria Economic Developments, Chief Amina Labinjo-Ajayi, has called on the Federal Government to leverage diaspora investment and entrepreneurship for national development.

Labinjo-Ajayi, who is also a U.S.-based humanitarian expert, made the call during an online meeting with journalists to mark Nigeria`s 25th Democracy Anniversary.

She said that it was high time the Nigerian government shifted attention from petroleum to other sectors, such as Compressed Natural Gas, entrepreneurship development, youths’ empowerment among others to develop the country.

‘Nigeria is richly blessed in natural and human resources, we need to channel our focus and invest more in other sectors.

‘Nobody talks about petrol again these days; attention is being shifted from it because of the effects of climate change.

‘The plan B now is compressed natural gas and as one of the CEOs of Silicon Valley, I can tell this for a fact.

‘Let us capitalise on our natural and human resources, we have smart
youths and first class brains that can drive this process,’ she said.

Labinjo-Ajayi said that she had brokered over 19 billion dollars investment to Nigeria and had also signed partnership with some companies on compressed natural gas, mechanised farming among others as part of efforts to contribute to the nation`s development.

Labinjo-Ajayi said she had also approached the management of the National Youth Service Corps (NYSC), to work with corps members on some of the projects in Nigeria.

She, however, used the medium to call on the government to create a market and promote entrepreneurship spirit among Nigerians, youths in particular to compete favourably with their counterparts in the global markets.

‘I am currently working with the Minister of Housing and Urban Development, Ahmed Dangiwa, the Federal Housing Authority and the Federal Mortgage Bank to leverage diaspora investment for housing delivery. ‘

Labinjo-Ajayi called on Nigerians all over the world to give support to the nation`s democracy, so
as to achieve a better future Nigeria desired.

‘Democracy is about the people, so citizens should continue to exercise their power through active participation and engagement.

‘On this 25th anniversary of democracy; I urge you to have hope and be resilient as we are making progress in spite of the challenges. So let us continue to work together towards a brighter future.

‘Democracy is a collective effort, it is a shared responsibility, so let us embrace active citizenship and hold leaders accountable,’ she said.

Labinjo-Ajayi also stressed the need for inclusive growth and development across the country, adding that Nigeria is a country where everyone should have access to opportunities regardless of background or location. (NAN)

Source: News Agency of Nigeria